University of Delhi 2009-2nd Sem M.C.A FUNDAMENTALS OF ACCOUNTING AND FINANCE - Question Paper

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6129    Your Roll ISo.................

MCA/II Sem.

J

Paper MCA 205 - FUNDAMENTALS OF ACCOUNTING AND FINANCE (Admissions of 2009 and onwards)

Time 2 hours    Maxi muni Marks 50

(Write your Roll No on I he top immediately on receipt of this question paper)

Attempt all questions.

All questions carry equal marks.

1    Explain the following Accounting concepts in short

a)    Mone> Measurement Concept

b)    Accural Concept

c)    Going Concern Concept    10

2    a) Calculate Current Ratio and Liquid Ratio from the following information

Rs Cash 10,000 Bank 20,000 Debtors 100,000 B/R 50,000 Prepaid Exps 20.000 Creditors 50,000 Bills payable 35,000 Bank overdraft 25.000 Stock 100,000

b) Explain issue of Shares at Premium

3    a) txplain the goal fo Financial Management    04

b) A company forfeited 100 shares of Rs 10~each issued at Premium of Rs 4 per share for non payment of final call of Rs 3 per shares Out of these 60 shares are reissued Rs 11 per share Remaining 40 shares are also reissued 9 per share. Pass journal entries 06

4    a) Calculate Break even point as well as the sales in terms

of units to earn profit of Rs. i 00000 from the given information.

SP-Rs 120 per unit

Variable cost = Rs 90 per unit

Fixed cost-Rs 1,50,000    05

b) ( alculate new BEP if selling price is increased to Rs 130 per unit and variable unit has also gone up by Rs 10 per unit    05

5 Trial Balance as on 31 03 2009

Particulars Debit Balance Credit Balancc Capital 300,000 Debtors 50,000 Creditors 20,000 Saies 6.00,000 Purchases 4 00,000 Sales Return 5,000 Purchase Return 10,000

Wages	60,000
Freight	10,000
Salanes	40,000
Commission		5,000
Rent		2,000
Discount	10,000	6,000
Machinery	5,000
Land and Building	100,000
Cash	25 000
Opening Stock	50,000
Interest Received		7,000
Bank Loan		250.000
TOIAL	10,00,000	10,00,000

Adjustment

(1) Cl os i rig stock at the end of> ear is Rs 200,000

(2)    Wages outstanding Rs 5000

(3)    Rjent Receivable R 5M0

(4)    Provide 5% for doutnini debt or. Debtor*

(5)    Depreciate Mach 10%

From the above Im;j Ba'sr o Additional information Prepare "i iumg and F.oi a dc \ oss A/c as well as Balance sheet tor \he' ear ended 31 si March 2009. 10

100

Attachment: university-of-delhi-2009-m-c-a--35533-1.pdf

Earning:   Approval pending.